October Real Estate News Recap

It would be far too easy to sum up the housing market by saying that it is still hobbling along, prices are still very depressed, foreclosures are still flooding the market and causing a backlog of inventory. While all those things are true, let’s take a look at some of the other real estate news from October.

Here are five of the top stories for October 2011 to give you a survey of the housing market.

Following a three-month growth spurt wherein home prices rose 3.5% nationally compared to the previous quarter, October fell flat.

According to Clear Capital’s Home Data Index™ (HDI) Market Report, home prices slogged along during the month of October, rising only 0.6%. For more information on specific markets, check out the report.

3. White House Proposes Overhaul of Refinancing Regulations

The Home Affordable Refinance Program (HARP) has been around for a few years, but the government has proposed some updates to the program:

· No matter how underwater the borrower, he or she would be eligible (formerly, there was a cap on the underwater amount) for the program.